© Reuters. Marriott (MAR) tops Q4 EPS by 13c, revenue beats
Marriott (MAR) reported fourth-quarter EPS of $1.96, $0.13 better than analysts’ estimate of $1.83. Revenue for the quarter was $5.92 billion versus consensus estimate of $5.39 billion.
- Q4 2022 system-wide constant dollar comparable RevPAR increased 28.8% globally, 23.6% in the U.S. and Canada, and 45.1% in international markets, compared to the fourth quarter of 2021;
- Q4 2022 system-wide constant dollar comparable RevPAR increased 4.6% globally, 5.2% in the U.S. and Canada, and 3.4% in international markets, compared to the fourth quarter of 2019;
- Reported diluted EPS in the fourth quarter totaled $2.12, compared to reported diluted EPS of $1.42 in the prior year quarter. Fourth quarter adjusted diluted EPS totaled $1.96, compared to fourth quarter 2021 adjusted diluted EPS of $1.30;
- Reported net income for the fourth quarter totaled $673 million, compared to reported net income of $468 million in the year-ago quarter. Adjusted net income for the fourth quarter totaled $622 million, compared to adjusted net income of $430 million in the fourth quarter of 2021;
- Adjusted EBITDA totaled $1,090 million in the fourth quarter of 2022, compared to adjusted EBITDA of $741 million in the fourth quarter of 2021;
- The company added more than 65,000 rooms globally in 2022, including approximately 40,000 rooms in international markets and nearly 17,500 conversion rooms. Net rooms increased by 3.1% compared to the end of 2022;
- By the end of the year, Marriott’s global development pipeline totaled more than 3,000 properties and more than 496,000 rooms, including approximately 22,300 rooms approved but not yet subject to signed contracts. Around 199,000 rooms in the pipeline were under construction at the end of 2022;
- For all of 2022, Marriott repurchased 16.8 million shares of common stock for $2.6 billion, including 8.7 million shares for $1.4 billion in the fourth quarter. The company returned $2.9 billion to shareholders in 2022.